Revealed! PT Pos Indonesia Suspected of Financial Manipulation

The Daya Anagata Nusantara Investment Management Agency (BPI Danantara) has discovered indications of fraud in the financial reports of PT Pos Indonesia (Persero). Managing Director of Stakeholders Management & Communications Rohan Hafas explained that the due diligence process uncovered various financial and governance issues that have accumulated over many years. The agency also received reports and found indications of various irregularities, including suspected financial manipulation, which are currently being followed up through audit and investigation mechanisms in accordance with applicable regulations. “What needs to be understood is that PT Pos Indonesia is currently undergoing a comprehensive overhaul. From the ongoing due diligence and evaluation process, we found various financial and governance problems that have accumulated over the years,” Rohan said in an official statement. Therefore, the issues burdening the company must be resolved one by one. There is no room for practices that damage corporate governance. All findings will be followed up professionally, transparently, and in accordance with legal processes. Currently, the company is prioritising returning PT Pos Indonesia to a healthy, professional, accountable, and high-integrity entity so it can optimally carry out its mandate for the public. Meanwhile, Daud Joseph resigned from his position as president director of PT Pos Indonesia. The logistics state-owned enterprise accepted his resignation request on 2 July 2026. “The reason for the resignation is purely the personal desire and consideration of the individual concerned,” said Corporate Secretary Iwan Gunawan in a written statement. PT Pos confirmed that the leadership transition process will be carried out in accordance with applicable governance. Before being appointed president director of PT Pos, Joseph served as director of operations and safety at PT Transportasi Jakarta (Transjakarta). He resigned from that position in March 2026 after being given the mandate to lead PT Pos. Regarding Joseph’s resignation, Rohan said that Danantara had received the resignation letter. Over the past three months, Joseph was assigned to lead the overhaul process at PT Pos through a comprehensive due diligence of the company’s financial, operational, governance, and organisational conditions. “Based on the assessment results, the individual conveyed that PT Pos Indonesia requires a thorough and fundamental revamp. According to him, the complexity of the problems faced and the future restructuring agenda require more specific expertise to lead the next phase of transformation,” Rohan said. The agency respects Joseph’s decision and will immediately prepare new leadership to continue the restructuring agenda. Before stepping down, Joseph attended a meeting with Commission VI at the Indonesian House of Representatives building in Jakarta, where he stated that PT Pos’s operating revenue plummeted by 20% in 2025 to IDR 3.9 trillion. “From the target of IDR 6.2 trillion, only about 63% was achieved. This resulted in gross profit not reaching the target of IDR 2.4 trillion, only achieving IDR 1.5 trillion,” he said. Consequently, EBITDA or net income was far from the target of IDR 800 billion, only reaching IDR 300 billion. The most significant decline was in the logistics business portfolio, which fell to around IDR 600 billion from IDR 2 trillion the previous year. Joseph noted this was due to the absence of food and rice distribution programmes. Courier logistics services for items under 30 kilogrammes remained stable at IDR 1.8 trillion. Financial services such as pensions, credit, and bill payment transfers also held steady at IDR 1.2 trillion. Property services saw a slight increase but contributed minimally. Joseph explained that over the last five years, the company’s financial performance was buoyed by government projects. In 2020, PT Pos generated revenue of IDR 5.4 trillion, and revenue continued to rise alongside increased government project contributions until 2025. “The contribution of government project assistance, whether social assistance, rice aid, or food aid distributed to the public, supported and boosted Pos Indonesia’s revenue,” he stated. However, he revealed the company lost its niche in core services. “This was evident when, in 2025, government project assistance fell to IDR 300 billion, and total revenue immediately dropped drastically to IDR 3.9 trillion,” he said, concluding that PT Pos Indonesia was heavily reliant on government projects and had not yet been able to return to its core business potential.